Bullish trend shift, buy on dipsGoldOANDA:XAUUSDgpvsagWorse‑than‑expected U.S. economic data has driven real U.S. Treasury yields lower. Coupled with sustained gold purchases by central banks worldwide and consistent large‑capital backing, gold prices are underpinned by solid fundamental support. That said, gold rallied too rapidly in the first half of the month, building up substantial profit‑taking long positions from lower entry levels. Technical indicators have moved into overbought territory. Once prices reach the 4440‑4430 range, heavy profit‑taking orders will emerge, sending the market into a phase of consolidation and correction. This aligns with my view over recent days: the trend has shifted. The bearish setup has given way to a bullish bias, and we are now witnessing a pullback correction within an uptrend. The near‑term key support lies at 4360‑4370, today’s rebound launch level. Long positions can be initiated if this level holds. A clear break below it would signal weaker market momentum, with the secondary critical support zone at 4340‑4350 acting as a major bullish defence. The strategy remains to buy on dips upon stabilization. Initial overhead resistance sits at 4400‑4430, the previous high zone, while 4500 represents the major resistance level further up. We are currently in a consolidation phase; do not chase price rallies. 🎯 I deliver objective market analysis daily